Priorities in lending businesses in the Guba region have been determined.
As stated in the report of the National Fund for Entrepreneurship Support (NFES), the priority projects include the establishment of specialized "green stores," modern enterprises for processing of fruits and vegetables, small and medium horticultural farms, processing enterprises for dried fruits and production of plastic windows and doors.
The authors of these projects can provide documents to the authorized credit organizations and receive relevant advice and even 100% of the loan amount.
NFES was established in 1992. Its agents in the issuance of loans are 50 banks and non-bank credit organizations.
Last year 295 million manat was allocated for lending businesses, most of them - large, centralized businesses controlled by officials - monopolists. Last year, the courts started to consider 11 claims in connection with the theft by agent banks of multimillion-dollar funds from NFES. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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